MESA, ARIZ. — MEB Management Services has begun leasing The Aster at Mountain Vista in Mesa, just east of Phoenix. The Aster at Mountain Vista comprises seven residential buildings on 8.5 acres. The community features a mix of 80 one-, 66 two- and 10 three-bedroom units for a total of 156 apartments. Each unit comes with smart thermostats, internet connectivity and stainless steel appliances. Amenities include a pool and spa, green spaces, covered parking, a dog park and community clubhouse.
LAGUNA BEACH, CALIF. — CBRE has arranged the sale of a property at 525 Catalina in Laguna Beach. The eight-unit asset traded hands for $3.1 million. CBRE’s Dan Blackwell and Mike O’Neill represented the seller, a private investor headquartered in Orange County. The buyer was also a private Orange County-based investor. Built in 1957, the property rises two stories on a 0.14-acre site. All apartments come in studio floor plans. Amenities include a community deck, gated entry, storage lockers and five carport spaces.
RANDOLPH, N.J. — Locally based CrownPoint Group has acquired a 14.5-acre site in Randolph, a city in northern New Jersey. The developer plans to build a 125-unit complex called Liberty Village on the site. Liberty Village will comprise 11 buildings. Of the total unit count, 20 percent will be subject to income restrictions. Apartments will come in two- and three-bedroom floor plans. Planned amenities include a fitness center, golf simulator and a dog park. CrownPoint Group expects to break ground on the project during the third quarter of 2024.
ASHFORD, CONN. — Northeast Private Client Group (NEPCG) has arranged the $6.1 million sale of Ashford Hills Apartments in Ashford, 34 miles east of Hartford, Connecticut. Taylor Perun and Cameron Formica of NEPCG represented the seller and procured the buyer in the deal. Both parties requested anonymity. According to Apartments.com, Ashford Hills Apartments was built in 1969 and offers one-, two- and three-bedroom units. Units range from 625 to 1,014 square feet in size.
SAN MARCOS, TEXAS — Vanguard Real Estate Advisors has negotiated the sale of a development site in the Central Texas city of San Marcos. Jordan Cortez, Mason John and Haley Birmingham of Vanguard represented the buyer, Woodfield Development. The site comprises 22.8 acres at the southwest corner of Staples Road and Old Bastrop Highway. Woodfield Development plans to develop a 360-unit complex called Addie’s Point at the site.
LOS ANGELES — Cityview has completed The Parker in the Pico-Robertson community of West Los Angeles. The project comprises 123 units and 4,000 square feet of retail space. Apartments come in studio, one- and two-bedroom floor plans. Of the total unit count, 13 are affordable, though income restrictions for these units were not disclosed. Amenities include a rooftop pool, open-air cinema, fitness center, co-working spaces and a dog park. The project team included WPIC Construction, AC Martin, Nadia Geller Design and Labib Funk + Associates.
SEATTLE — Kidder Mathews has brokered the sale of Seventh and James Apartments in Seattle’s First Hill neighborhood. Dylan Simon, Matt Laird and JD Fuller of Kidder Mathews’ Simon Anderson team represented the seller and sourced the buyer in the transaction. An institutional owner sold the asset to an undisclosed buyer for $26.9 million. Seventh and James Apartments features 96 units. The five-story, podium-style building was built in 1992 at 600 7th Ave.
GARDEN GROVE, CALIF. — CBRE has arranged the sale of two communities located on the same street near Euclid Street and Katella Avenue in Garden Grove. The two properties comprise of 14 units with a combined value of $3.3 million. In the first transaction, CBRE’s Dan Blackwell and Andrew Boukather represented both the buyer and seller in the sale of an eight-unit property at 10772 Palma Vista Ave. The property was built in 1961 on a 0.2-acre site. The asset traded hands for $1.9 million. The buyer was a private …
PHOENIX — Mosaic has begun demolishing a vacant commercial lot at 2920 N 56th Street in Phoenix to develop a new build-to-rent community called 56 at Arcadia. The developer, Hawkins Development, selected Mosaic as the general contractor for the project. Mosaic is overseeing all aspects of construction, including demolition, land development, and vertical construction. 56 at Arcadia will comprise 40 townhome units on a two-acre site. Units will come in two- and three-bedroom floor plans with garages and covered patios. The community will also include amenities such as a ramada …
PORTLAND, ORE. — Institutional Property Advisors has brokered the sale of Sandy28, a mixed-use community in Portland, Oregon’s Central Eastside. Anthony Palladino, Giovanni Napoli, Philip Assouad, Nick Ruggiero and Ryan Harmon the seller, Fairfield, the property’s developer. The buyer was not disclosed. Built in 2020, Sandy28 comprises 206 apartments and 3,300 square feet of retail space. Amenities include a rooftop lounge, fitness center, game room, co-working space, and outdoor courtyards with a dog park and pet lounge.